MTN begins road shows on N575m shares
MTN Nigeria has commenced a nationwide road show to engage interested retail investors in the ongoing offer for the sale of 575 million shares. The telecom firm in a statement said the first road show took place at the Transcorp Hilton in Abuja on Wednesday. He said the roadshow was flagged off by Ralph Mupita, […]
MTN Nigeria has commenced a nationwide road show to engage interested retail investors in the ongoing offer for the sale of 575 million shares.
The telecom firm in a statement said the first road show took place at the Transcorp Hilton in Abuja on Wednesday.
He said the roadshow was flagged off by Ralph Mupita, chief executive officer (CEO) of MTN Group, on behalf of the MTN Group, whose shares are being made available for sale.
MTN Nigeria Communications Plc (MTN Nigeria) on Tuesday announced the retail offering of some of its shares to individual subscribers.
The MTN announced the public offer to retail investors for the sale of up to 575 million shares held in MTN Nigeria by MTN Group at N169.00 per share. However, depending on how the public receives, the MTN said it is willing to provide additional shares if the initial shares are oversubscribed.
The offer opened on December 1, 2021 and closed at 5:00 pm on 14 December 2021. MTN said the minimum subscription is for 20 shares and lots of 20 shares thereafter.
The Offer includes an incentive in the form of one free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor. The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date.
How can individuals invest?
MTN has said it is delivering the investment options through multiple platforms – via a digital platform, banks, and conventional stockbrokers.
Also, investors will be able to submit applications through the Issuing Houses, receiving agents (authorised stockbrokers and Nigerian banks), and online via a unique digital application platform, Primary Offer, administered by the Nigerian Exchange Limited. All authorised agents are available on the MTN website.
Interested investors will complete and submit applications through any of the following channels: The primary offer app from the App Store for IOS and Google Play Store. They can also apply and submit their forms via the receiving agents; that is the banks or stockbrokers across the country.
Investors will need their Bank Verification Number (BVN) and CSCS account number to complete the transaction. If you do not have a CSCS account, your stockbroker can assist in setting one up for you before completing your application. A CSCS account can also be created for you as part of the application process on Primary Offer.